General election 2019: Liberal Democrats stand aside for Dominic Grieve October 30, 2019 The Liberal Democrats will not stand a candidate against former Conservative Dominic Grieve, as part of pro-Remain push to block Brexiters in the election campaign. The MP, who has represented Beaconsfield since 1997, was sacked last month alongside 20 others, for having voted against the government, effectively preventing a no-deal Brexit. Yesterday 10 of the [...]
Volkswagen profits soar in third quarter despite industry malaise October 30, 2019 Volkswagen has powered ahead of the gloom engulfing the global car industry, with rising summer profits driven by sport utility vehicle (SUV) sales. Despite this, the German giant warned that the global car market would “contract faster than previously anticipated in many regions of the world”. Read more: Volkswagen and Ford strengthen ties by teaming [...]
Business administrations soar 20 per cent October 30, 2019 Business administrations in England and Wales jumped 20 per cent in the third quarter, rising to the highest level for more than five years. In the third quarter the number of companies entering administration rose to 484 from 403 in the previous quarter. Company insolvencies rose 0.4 per cent on the previous quarter to 4,355 [...]
Twitter pulls all political advertising as voters support regulation October 30, 2019 Twitter tonight announced that all paid-for political advertising would be banned from its platform from 22 November in a move that will pile pressure on Facebook to do the same. Writing on the platform, founder Jack Dorsey wrote: “A political message earns reach when people decide to follow an account or retweet. Paying for reach [...]
Financial Times owner Nikkei loses $29m in apparent fraud October 30, 2019 Nikkei, the Japanese media giant behind the Financial Times, has lost roughly $29m (£22.5m) in an apparent wire transfer fraud. In a statement issued today, the company said an employee of its US subsidiary had transferred the funds after receiving “fraudulent instructions by a malicious third party who purported to be a management executive of [...]
Q&A: What is behind Fiat Chrysler’s proposed mega-merger with Peugeot? October 30, 2019 After Fiat Chrysler’s (FCA) deal with Renault fell apart over the summer, chairman John Elkann has wasted no time in finding a new suitor – Peugeot-owner PSA. The two European automakers are in talks over a potential tie-up that could create a £36bn giant, in a move which highlights how urgently car makers are looking [...]
Glaxosmithkline posts third-quarter sales growth after Pfizer purchase October 30, 2019 Glaxosmithkline have reported group sales of £9.4bn for the third quarter, with total operating profits of £2.1m, compared with £1.9m for the same period in 2018. The drug manufacturer raised its forecast for 2019, saying that it now expected profits to be flat compared to last year, up from a previous estimated of a three [...]
Mike Ashley hits out at competition watchdog over JD Sports probe October 30, 2019 Retail tycoon Mike Ashley has slammed the UK’s competition watchdog for its investigation into the merger between JD Sports and Footasylum, saying it has overstated Sports Direct’s share of the market. The Competition and Markets Authority (CMA) is investigating whether JD Sports’ £90m takeover of Footasylum could result in higher prices and reduced competition in [...]
Amazon ad banned for ‘misleading’ customers into signing up for Prime October 30, 2019 Amazon has been reprimanded by the ad watchdog over concerns the delivery options on its website may have misled people into signing up for Prime. The Advertising Standards Authority (ASA) received 10 complaints about a promotion that appeared during the ecommerce giant’s checkout process. Read more: Microsoft beats Amazon to Pentagon’s $10bn cloud computing contract [...]
TfL ‘can’t rule out’ Thor’s hammer as cause of huge London Overground delays October 30, 2019 Travel chaos hit London Overground commuters today as the service suffered suspensions due to a track obstruction. Londoners coming into the city were forced to find alternative routes with no service between Highbury & Islington and New Cross, Clapham Junction, West Croydon and Crystal Palace. Read more: Crossrail is at risk of even more delays [...]